Zacks Investment Research cut shares of NanoString Technologies Inc. (NASDAQ:NSTG) from a hold rating to a sell rating in a report issued on Wednesday.
According to Zacks, “NanoString Technologies, Inc. is engaged in the development, manufacture and sale of life science tools. It provides nCounter Analysis System which supports research and development of clinical applications from basic discovery to the development of future molecular diagnostic tests on a single platform. The company also offers nSolver Analysis software, gene expression panels, miRNA expression assay kits, cancer copy number variation panels, nCounter leukemia fusion gene expression assay kits and human karyotype panels, custom CodeSets and master kits that are ancillary reagents, cartridges, tips and reagent plates to setup and process samples in its instruments. It markets its systems and related consumables to researchers in academic, government and biopharmaceutical laboratories primarily in North America, Europe, the Middle East and the Asia Pacific. NanoString Technologies, Inc. is headquartered in Seattle, Washington. “
NanoString Technologies (NASDAQ:NSTG) traded down 0.028% during trading on Wednesday, hitting $17.945. The stock had a trading volume of 3,120 shares. The stock’s 50-day moving average is $21.42 and its 200-day moving average is $18.79. The stock’s market capitalization is $376.92 million. NanoString Technologies has a 52-week low of $11.30 and a 52-week high of $23.45.
NanoString Technologies (NASDAQ:NSTG) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.51) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.01. NanoString Technologies had a negative return on equity of 784.63% and a negative net margin of 53.02%. The company had revenue of $23.90 million for the quarter, compared to analyst estimates of $23.46 million. During the same quarter in the prior year, the firm posted ($0.49) EPS. NanoString Technologies’s quarterly revenue was up 52.2% compared to the same quarter last year. On average, analysts predict that NanoString Technologies will post ($2.21) earnings per share for the current fiscal year.
In other NanoString Technologies news, SVP Wayne Burns sold 21,666 shares of the stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $22.04, for a total value of $477,518.64. Following the sale, the senior vice president now owns 71,034 shares in the company, valued at $1,565,589.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James A. Johnson sold 10,000 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $22.57, for a total value of $225,700.00. Following the completion of the sale, the chief financial officer now owns 10,698 shares in the company, valued at approximately $241,453.86. The disclosure for this sale can be found here. Corporate insiders own 33.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NSTG. Quantitative Systematic Strategies LLC acquired a new stake in NanoString Technologies during the second quarter worth $211,000. Bank of New York Mellon Corp raised its stake in NanoString Technologies by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 97,569 shares of the company’s stock worth $1,229,000 after buying an additional 7,272 shares during the last quarter. California State Teachers Retirement System raised its stake in NanoString Technologies by 9.4% in the second quarter. California State Teachers Retirement System now owns 31,067 shares of the company’s stock worth $391,000 after buying an additional 2,658 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in NanoString Technologies during the second quarter worth $613,000. Finally, Nationwide Fund Advisors raised its stake in NanoString Technologies by 7.2% in the second quarter. Nationwide Fund Advisors now owns 9,064 shares of the company’s stock worth $114,000 after buying an additional 612 shares during the last quarter. Institutional investors and hedge funds own 82.87% of the company’s stock.
About NanoString Technologies
NanoString Technologies, Inc develops and manufactures intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company operates in the segment of development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.
Get a free copy of the Zacks research report on NanoString Technologies (NSTG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com